“Growth & Investment: Housing Prices and Rental Rates in 2024”
“Housing prices and rental rates across Greece continue their upward trajectory, with significant increases in the third quarter of 2024 compared to 2023. Regional apartment price growth varied considerably, with Thessaloniki leading at 12.1%, followed by Athens at 7.7%, other areas at 9.5%, and other major cities at 4.9%. This growth and investment trend highlights Greece’s strong real estate market potential.”
| Area | Q3 2024 (€/sqm) | Q3 2023 (€/sqm) | Change % |
| Athens – Center | 2,177 | 2,000 | 8.90% |
| Athens – North | 3,111 | 2,915 | 6.70% |
| Athens – South | 3,818 | 3,611 | 5.70% |
| Athens – West | 1,915 | 1,800 | 6.40% |
| Athens – East | 2,174 | 1,951 | 11.40% |
| Piraeus | 2,556 | 2,000 | 27.80% |
| Piraeus suburbs | 1,966 | 1,714 | 14.70% |
| Rest of Attica | 1,899 | 1,846 | 2.80% |
| Thessaloniki – Municipality | 2,400 | 2,164 | 10.90% |
| Thessaloniki – Suburbs | 1,709 | 1,560 | 9.50% |
| Thessaloniki – Rest of Prefecture | 922 | 810 | 13.90% |
Source: golden visa greece
Property Prices by Region: Growth & Investment Opportunities
Across Greece, property prices have seen significant increases, with each region showing unique trends that attract growth & investment Key regional highlights include:
Thessaloniki: Leading the growth, property prices have surged by 12.1%, making it an attractive investment location.
Athens: With a 7.7% increase, the capital remains a strong contender for investors seeking high returns.
Other Areas: Various regions outside the capital are experiencing a 9.5% rise, indicating rising demand across Greece.
Piraeus & Suburbs: The southern suburbs of Athens now have the highest prices at €3,818 per square meter, outpacing central Athens due to increased demand driven by the Golden Visa program and infrastructure improvements.
These regions offer valuable opportunities for growth & investment in Greece’s booming property Market
Key Growth & Investment Drivers in Greece’s Property Market
Several factors are contributing to the remarkable growth & investment seen in Greece’s property market. These include:
Golden Visa Program: A significant driver, attracting international investors seeking residency through property investments.
Short-Term Rental Demand: With increasing tourism, the demand for properties suitable for short-term rentals has risen, making real estate a profitable venture.
Infrastructure Projects: Major developments, such as new metro lines in Athens and upgrades in Piraeus, are enhancing connectivity and boosting property values.
These drivers play a crucial role in shaping the market’s growth and making Greece an appealing destination for investment.
Tourism and Short-Term Rentals
Athens has emerged as a major European tourist destination, ranking 6th in Europe for Airbnb Christmas booking growth with a 31% year-over-year increase, behind only Rovaniemi, Finland.
Golden Visa Program Performance
Despite increased minimum investment requirements, Greece’s Golden Visa program saw 12% growth in applications in October 2024 compared to 2023. British investors have shown particular interest, securing 482 permits (3.8% of total) as they seek to regain EU mobility post-Brexit. U.S. nationals obtained 353 permits (2.8% of total) as of August 2024.
Source: Greek of Ministry of Migration and Asylum
